LAUSANNE, Switzerland and WILSONVILLE, Oregon, May 11, 2015 /PRNewswire/ --
Debiotech of Switzerland and iSense CGM, Inc. of the US, announced today having entered into an Agreement under which Debiotech has the option to acquire the exclusive rights on the iSense CGM product and technology for use with patch pumps for diabetes therapy. Financial terms and conditions of the Agreement are not disclosed.
With close to 390 million people in the world having diabetes today (a number predicted to grow to around 592 million by 2035) and numerous studies showing the interest of combining accurate insulin delivery and Continuous Glucose Monitoring, it is of upmost importance to offer a reliable integrated approach for a more effective treatment of diabetes.
The JewelPUMPTM is today's most integrated patch pump product, combining the highest insulin delivery accuracy with the largest insulin reservoir (5mL) for both Type 1 and Type 2 patients. The JewelPUMPTM is also equipped with an intuitive and highly secured Telemedicine enabled "All-in-One" Remote Control device.
The partnership contemplated through this option is intended to deliver a complete solution to diabetic patients, combining the unique features of Debiotech's JewelPUMPTM and "All-in-One" remote control data communication device with the highly accurate, particularly easy to use and comfortable CGM sensor of iSense CGM, Inc. The integrated product platform would be developed by Debiotech and will be commercialized by partners selected by Debiotech. This platform would also benefit from Debiotech's collaborations on specific closed-loop algorithms currently developed for use with the JewelPUMPTM and taking advantage of its extreme delivery accuracy and feed-back control capabilities.
"This option represents an ideal combination of the most accurate solutions available in both worlds of Patch-pumps and Continuous Glucose Monitoring to prepare for a discreet and cost effective close-loop solution which has always been part of our strategy," says Dr. Frédéric Neftel, President and CEO of Debiotech. "We are very excited about the opportunity of working together with iSense CGM and both parties are committed to bring such advanced product to market for diabetes therapy and improve on the Quality of Life of many patients worldwide."
Richard G. Sass, Chairman and CEO of iSense CGM, Inc: "I am pleased to join the iSense CGM technology with the Debiotech JewelPUMP and am excited to be partners for the realization of a world-class artificial pancreas that we all know to be the "Holy Grail" for diabetes management. Tight management and control of blood sugar will reduce complications and improve Quality of Life for people with diabetes".
Laurent-Dominique Piveteau, COO of Debiotech: "iSense, through its previous collaboration with Bayer HealthCare, has been working for many years to deliver the most elegant, accurate and user-friendly CGM solution. This product has the potential to ideally complement our platform of activities in the field of close-loop algorithms that we have been investigating over these recent years while finalizing a unique platform of products around the JewelPUMPTM."
Debiotech has specialized, for over twenty five years, in the research and development of innovative medical devices, with a focus on implantable and external drug delivery systems for the treatment of severe diseases such as diabetes, renal failure, cardiovascular diseases and cancer. The company's products are based on micromechanics and nanotechnologies, as well as novel technologies. Debiotech has over 40 exclusive license agreements with leading companies in medical devices and pharmaceuticals and holds over 500 patents worldwide.
About iSense CGM, Inc.
iSense CGM is a life science enterprise with its foundation rooted in material and polymer science has been engaged in the development of its CGM technology for 20 years. With recent algorithm development, iSense CGM has achieved the most accurate MARD in the field of diabetes management. The company has 33 patents and additional knowhow in the form of trade secrets to be the best partner for people with diabetes seeking tight management and control of glucose values to reduce complications from pancreatic failure.
Further information on iSense CGM, Inc can be found at http://www.isensecgm.com
Richard G. Sass,
iSense CGM, Inc.